| 摘要 |
A method and system for time stamping and authenticating packets of financial data, like orders to buy or sell and confirmations of such orders and resulting trades. The packets are stamped and encrypted multiple times as they enter and leave communications networks and during market processing. Market data, including information about all of the orders and trades generated at the market, is likewise time stamped and distributed to subscribers. This resulting timing data can be used in an algorithmic trading application to make trading decisions. When multiple markets are so equipped, an accurate time-aligned database of market activity may be utilized to develop algorithmic trading applications or for forensic purposes. Packets can also be rerouted or switched to a private network for multicasting to subscribers. The packets are processed to preserve proper handling by downstream routers and switches even though timing data is added to the application layer. |
